Full House Resorts, Inc. (FLL) saw its loss widen to $0.60 million, or $0.03 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $0.33 million, or $0.02 a share. Revenue during the quarter grew 23.79 percent to $39.62 million from $32.01 million in the previous year period. Gross margin for the quarter contracted 202 basis points over the previous year period to 44.38 percent. Total expenses were 94.30 percent of quarterly revenues, down from 95.22 percent for the same period last year. This has led to an improvement of 92 basis points in operating margin to 5.70 percent.
Operating income for the quarter was $2.26 million, compared with $1.53 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $4.59 million compared with $3.57 million in the prior year period. At the same time, adjusted EBITDA margin improved 45 basis points in the quarter to 11.60 percent from 11.15 percent in the last year period.
"We had a solid first quarter, with strong operating results in March offsetting the effects of significant snowfall at several of our properties in January and early February," said Daniel R. Lee, president and chief executive officer of Full House Resorts. "Once again, the Silver Slipper's operating results were particularly strong, with net revenues growing more than 12% and Adjusted Property EBITDA increasing nearly 15%."
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
